House of the year, Vietnam: Vietnam Prosperity Bank

Asia Risk Awards 2021

Pham Phu Khoi, VP Bank
Pham Phu Khoi, VP Bank

From the depths of the pandemic, Vietnam Prosperity Bank (VP Bank) arose as a winner to capitalise on the strong demand for hedging tools to mitigate foreign exchange and interest rate risks in its home country. By doing so, the bank saw its 2020 derivatives revenues soar more than 757% year on year.

Its growth surpassed many of its domestic rivals, even while factoring in that Vietnam made it through the pandemic better than other Asian countries last year – with the nation’s GDP growing by 2

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